The 230,000,000% number is so hopelessly old... Try this:
"To get a true sense of the economic problems facing Zimbabweans Professor Steve Hanke from the CATO Institute developed a hyperinflation index that puts the annual inflation rate at around 6.5 quindecillion novemdecillion percent - that is 65 followed by 107 zeros. He noted that prices of basic goods double every 24.7 hours, and this is the reason why shops are refusing to accept Zimbabwean dollars."
Zimbabwe may completely "dollarize" their economy.
ReplyDeleteProf. Easterly has started a new web blog which may be of interest to anyone interested in economic issues of developing nations and international aid.
ReplyDeleteThe 230,000,000% number is so hopelessly old... Try this:
ReplyDelete"To get a true sense of the economic problems facing Zimbabweans Professor Steve Hanke from the CATO Institute developed a hyperinflation index that puts the annual inflation rate at around 6.5 quindecillion novemdecillion percent - that is 65 followed by 107 zeros. He noted that prices of basic goods double every 24.7 hours, and this is the reason why shops are refusing to accept Zimbabwean dollars."
Now we are talking.
On the other hand, they've solved their racial problems.
ReplyDelete